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Protocol Change Proposal on BSC - November 14, 2021

0x2A...a149

Spell Address

GRO Support

Supporters

GRO Holders should vote for this proposal if they support the following alterations to the MOR (BSC) Protocol.

If you have questions on how voting works ask in Growth DeFi's Telegram


Executive Summary

If this executive proposal passes, the following changes will occur within the Maker Protocol:

  • Adjustments to STKAPEMORBUSD-A
  • Prepare STKPCSBUSDUSDC-A for discontinuation
  • Decreases the liquidation ratio from 175% to 150% for selected ILKs
  • Surplus withdrawal of 50k MOR
  • Instates a 24-hour mandatory delay to execute approved proposals

Voting for this executive proposal will place your GRO in support of the changes and additions outlined above.

If this executive proposal passes, the changes and additions listed above will become active in the MOR (BSC) Protocol soon after it reaches the minimum quorum.

If this executive proposal does not pass within 30 days, then it will expire and can no longer have any effect on the MOR (BSC) Protocol.


Proposal Details

Adjustments to STKAPEMORBUSD-A

This will set the stability fee, the liquidation Ratio, and the liquidation penalty, in 25%, 110%, and 9%, respectively, for STKAPEMORBUSD-A.

Prepare STKPCSBUSDUSDC-A for discontinuation

This will set the stability fee in 50% and remove the debt ceiling for STKPCSBUSDUSDC-A.

The goal is to discontinue STKPCSBUSDUSDC-A once all borrowers have closed down their positions.

Decreases the liquidation ratio from 175% to 150% for selected ILKs

This will decrease the liquidation ratio (mat) from 175% to 150% for the following ILKs:

  • STKCAKE-A
  • STKBANANA-A
  • STKPCSBNBCAKE-A
  • STKPCSBNBETH-A
  • STKPCSBNBBTCB-A
  • STKPCSETHBTCB-A

Surplus withdrawal of 50k MOR

This will be performing a 50k MOR withdrawal of the system surplus to the GrowthDeFi multisig wallet.

The MOR will be used to kickstart GRO/MOR and WHEAT/MOR liquidity before bonds are introduced.

Instates a 24-hour mandatory delay to execute approved proposals

The delay contract parameter will be modified from 0-hours to 24-hours. This effectively imposes a mandatory delay of 24-hours to execute future proposals approved by the governance.

Review

Community debate on these topics can be found on the MOR Governance forum. Please review any linked threads to inform your position before voting.

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Supporters

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